Business, 05.09.2020 20:01 lanc3r3vo

According to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $60,000 was subject to state and federal unemployment taxes. Required:
a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.6%
b. On December 31, journalize the entry to record the accrual of payroll taxes.

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According to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social securi...

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